Coursera and Udemy have agreed to merge in a $2.5 billion all-stock transaction, a deal that could reshape the global online education landscape as platforms face slowing growth, rising competition, and mounting pressure to prove long-term relevance in an AI-driven world.
The transaction, announced on Wednesday, will see Coursera absorb Udemy, creating a combined learning giant that spans university-backed credentials, enterprise training, and instructor-led marketplaces. Subject to regulatory approvals and shareholder sign-off, the companies expect the merger to close in the second half of next year.
The timing is telling.
Both platforms have reported revenue growth in recent quarters, but that performance has not translated into market confidence. Over the past year, investor sentiment has cooled as questions persist around user growth, pricing power, and whether online education companies can sustainably monetise engagement outside pandemic-era demand. Share prices for both Coursera and Udemy have reflected that scepticism.
This merger is their response.
By joining forces, Coursera and Udemy are effectively betting that scale, diversification, and deeper investment in artificial intelligence can help them navigate a more demanding phase of the edtech cycle, one where growth alone is no longer enough.
Udemy CEO Hugo Sarrazin described the deal as a strategic reset, aimed at strengthening the platform’s value proposition while unlocking long-term upside for shareholders.
The logic behind the combination rests on how the two companies complement each other. Coursera has built its brand around structured learning, partnering with universities and institutions to offer professional certificates, degrees, and job-aligned programs. Udemy, by contrast, operates a more open marketplace powered by individual instructors, alongside a fast-growing enterprise training arm serving corporate clients.
Together, the merged company aims to cover the full spectrum of modern learning: from academic credentials and workforce reskilling to short, practical, on-demand courses designed for rapidly changing job roles.
At the centre of this strategy is artificial intelligence.
Both companies have accelerated their AI roadmaps in recent months, positioning AI not just as a feature, but as core infrastructure for how learning is delivered. Coursera has pushed aggressively into generative AI, announcing integrations with OpenAI’s ChatGPT ecosystem and entering a content partnership with Anthropic. Udemy, on its part, recently launched an AI-powered microlearning experience designed to deliver
